WASHINGTON, DC—Congressman Andy Ogles (TN-05) introduced the Affordable Housing For VeteransAct, which would reduce VA home loan fees assessed to veterans, servicemembers, or surviving spouse homebuyers by striking ‘November 15, 2031’ everywhere it appears in the loan fee table (38 U.S.C. 3729(b)(2)) and replacing it with ‘October 1, 2024.’ This change to existing U.S. law would result in swift loan fee reductions for veterans as high as 65%. The costs incurred will be recouped by rescinding $4.8 billion from the $80 billion made available to the Internal Revenue Service through The Inflation Reduction Act.
“The Biden-Harris Administration is auctioning off American houses to criminal illegal aliens, leaving countless American veterans homeless on the streets and many unable to purchase a home,” said Congressman Ogles. “My bill will dramatically reduce VA home loan fees and allow our servicemembers to be rewarded instead of punished when buying a home. Not only will this legislation help veterans, but it will not affect taxpayers as this will be paid for by cutting billions from the ever-expanding IRS.”
"Our veterans and servicemembers have given everything for our country, and the amount of homelessness among them is terrifying. While the IRS gets huge checks from the federal government, that money could go toward more important things—like making it easier for our veterans to get a home," said Congresswoman Luna. "I'm proud to co-sponsor Rep. Ogles' Affordable Housing for Veterans Act. It is time we give back to our fellow patriots who have put their lives on the line for us."
Cosponsors (2): Reps. Anna Paulina Luna [FL-13] and Randy Weber [TX-14].
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This is a companion discussion topic for the original entry at https://ogles.house.gov/media/press-releases/ogles-cuts-housing-costs-veterans